BB&T 2015 Annual Report Download - page 332

hospitalization plan, health care plan, dental care plan, life or other insurance or death benefit plan, and
any other present or future similar group employee benefit plan or program for which officers of
Employer generally are eligible, on the same terms as were in effect prior to Executive’s Termination
Date, or, to the extent such participation is not permitted by any group plan insurer, under comparable
individual plans and coverage (to the extent commercially available).
The Termination Compensation and other benefits provided for in this Section 1.7.3 shall be paid by Employer in
accordance with the standard payroll practices and procedures in effect prior to Executive’s Termination Date. If Executive breaches
Executive’s obligations under Section 1.7.3 or Section 2 of this Agreement, Executive shall not be entitled to receive any further
Termination Compensation or benefits pursuant to this Section 1.7.3 from and after the date of such breach.
  . A Good Reason Termination under Section 1.6.7 shall entitle Executive to the
following in lieu of any other compensation or benefits (under Section 1.4 of this Agreement or otherwise) from Employer:
(i) Executive shall receive Termination Compensation each month during the Compensation Continuance
Period, subject, however, to Executive’s compliance with his Section 2 covenants (including, without
limitation, compliance with the noncompetition and nonsolicitation provisions of Section 2) for a one (1)
year period following Executive’s Termination Date.
(ii) Employer shall use their best efforts to accelerate vesting of any unvested benefits of Executive under
any employee stock-based or other benefit plan or arrangement to the extent permitted by Code Section
409A or other applicable law and the terms of such plan or arrangement.
(iii) Employer shall make available to Executive, at Employer’s cost, outplacement services by such entity or
person as shall be designated by Employer, with the cost to Employer of such outplacement services not
to exceed Twenty Thousand Dollars ($20,000).
(iv) During the Compensation Continuance Period, Executive shall either continue to participate (treating
Executive as an “active employee” of Employer for this purpose) in the same group hospitalization plan,
health care plan, dental care plan, life or other insurance or death benefit plan, and any other present or
future similar group employee benefit plan or program for which officers of Employer generally are
eligible, on the same terms as were in effect prior to Executive’s Termination Date, or, to the extent such
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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